In the spirit of Charles Ponzi, today we offer advice for attracting special attention from powerful federal authorities who want to punish you.
SEC
Things That Never Change In The Oil Patch: How To Aggravate The SEC
By Charles Sartain | Gray Reed & McGraw, P.C.Sign up and get Breaking Energy news in your inbox.
We will never sell or share your information without your consent. See our privacy policy.SEC Proposes Rules For Resource Extraction Issuers Under Dodd-Frank Act
By Andrew Brady, Paul Monsour | Akin Gump Strauss Hauer & Feld LLP
On December 11, 2015, the U.S. Securities and Exchange Commission proposed new rules pursuant to Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
As Houston is still the epicenter of the Foreign Corrupt Practices Act (FCPA) enforcement world, it is probably not too surprising that the Petrobras scandal has reached the Lone Star state.
Energy News Roundup: SEC Going After Miller Energy, LNG The Key To Qatar & Duke Report Record Losses
By Conor O'Sullivan
The Securities and Exchange Commission announced today that it is bringing civil charges of fraud against Miller Energy Resources Inc. [Knoxville News Sentinel] Qatar continues to develop as an LNG giant, producing around a third of all liquefied natural gas, despite Australian and the United States export ambitions. [The NY Times] Duke Energy has reported… Keep reading →
According to a Bloomberg BNA report, a representative of the Chamber of Commerce, one of the plaintiffs in National Association of Manufacturers, Inc. v. SEC, the conflict minerals case currently pending in the DC Circuit, claims that the litigation “is sparking new interest by Congress in the requirements.”
Ed. note: This is a new weekly column by Elie Mystal, Managing Editor of http://www.atlredline.com Above the Law Redline. This space will focus on the laws that exist, should exist, and should be put out of their misery. OVER-REGULATED Gaseous Emissions: The Bureau of Land Management is trying to figure out whether to tax the venting and… Keep reading →
Energy News Roundup: Methane Leakage, Market Factors Decide Bio-Jet Fuel Uptake & Cove Point LNG Risk Complaint
By Jared Anderson
A new study using flyover methodology found methane emissions from oil and gas development activity in Colorado’s Front Range exceed estimates by regulators. “These discrepancies are substantial,” said lead author Gabrielle Petron, an atmospheric scientist with NOAA’s Cooperative Institute for Research in Environmental Sciences at the University of Colorado Boulder. “Emission estimates or ‘inventories’ are… Keep reading →
From the Lawyers: SEC Actions Dodd-Frank Disclosure Requirements for ‘Resource Extraction Issuers’
By Nick Cunningham
On August 22nd, the SEC adopted Dodd-Frank mandated rules that will require certain oil and gas companies to disclose payments made to U.S. and/or foreign governments in the course of their commercial development of oil, gas and minerals projects. To date 20+ law firms have written alerts on the new rules and the clear consensus is summed up by Skadden’s warning that “although the deadline for the first Form SD is more than a year away, resource extraction issuers may have a significant amount of work to do in preparation.”
The headline numbers are these: 1,100 resource extraction issuers are expected to exceed a de minimis, project-based payment threshold of $100,000 and incur the obligation to spend an aggregate of $1 billion on initial compliance efforts. These efforts will culminate with an obligation to file payment disclosure with the SEC on a new Form SD for fiscal years ending after September 30, 2013. Keep reading →
European Commission President Jose Manuel Barroso makes a statement on recent developments in Romania following a meeting on July 18, 2012, at the European Union Headquarters in Brussels.
It’s hard to imagine a more uncomfortable issue for U.S. and European natural resource companies than the required disclosure of payments to the resource-owning “governments” with which they do business. How exactly is a company expected to reconcile the normative virtue of transparency with the mean, dollar-driven, shovel-in-the-ground reality that defines much of the resource-rich (and nicety-poor) world? At what point does transparency simply accelerate the deconstruction of a company’s competitiveness (no matter how civic-minded relative to those of unfettered competitors from the east) BRIC by BRIC? Keep reading →
Last September, Breaking Energy named five cleantech IPO‘s that were set to break the charts and change the game for renewable energy on the stock market. One of those five was Brightsource.
But despite the hype that had some industry insiders calling the BrightSource IPO the possible start to a cleantech gold rush, the thermal solar company cancelled its initial public offering last week due to what the company said were “adverse market conditions.” Keep reading →
